Mattel’s 2nd-Quarter Net Increases 8%; Sales Up 32%

Continuing its steady earnings improvement, Mattel said second-quarter income rose to $19 million, an increase of almost 8% from a year ago. Sales climbed 32%.

The profit for the three months ended June 29 compares to income of $17.6 million in the 1984 quarter.

However, a year ago the company implemented a restructuring that included a $231-million cash infusion and has recalculated its results to reflect the effects of that cash infusion on the entire fiscal year. On that basis, the 1985 second-quarter profits were 20% below the $23.8-million income as recalculated for the 1984 quarter.

The company, whose products include Barbie and Masters of the Universe dolls, said sales in the quarter were $251.1 million, compared to $190 million in the year-ago period.

For the first six months, the company’s income more than quadrupled, to $42 million from $10 million.

However, after recalculating for the effect of the cash infusion, the six-month income was up 60% from the refigured $26.2 million in the first half of 1984.

First-half sales were $478.5 million, a 50% increase from the $317.6 million reported in the first six months of 1984.

A company spokesman said the first-half sales were the best ever for the company’s toys division--now its only enterprise.

Following a $394-million loss in 1983, primarily from its home-computer and video-games lines, Mattel shed all divisions except its toy-making operation.